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Hiring guidelines in Bolivia
- Pay & taxes
- Leave policy
- Termination
- Time-off
- Additional info
Pay & taxes
Leave policy
Termination
Time-off
Additional info
Minimum Wage Requirements
The minimum wage is BOB 2,250 per month. The minimum wage is updated every May 1° by the supreme court.
Individual Income Tax
The individual income tax is a flat rate of 13%
Payroll Cost
The employer cost is generally estimated at 16.71% of the employee salary. Monthly employer costs:
- Social Security - 3%
- Professional Risk Premium - 1.71%
- Public Health Insurance - 10%
- Housing (Provivienda) - 2%
- Home office bonus - BOB 200
Please note: the minimum monthly salary for Social Security, Professional Risk Premium, and Housing (Provivienda) contributions is BOB 2,363.
One-off cost:
- Mandatory Wet Ink Employment Agreement Handling Fee - USD 80
Annual costs:
- Medical Exam (Onboarding) - BOB 200
- Medical Exam (Offboarding) - BOB 200
- 13th Month Salary (Christmas Bonus) - 1-month salary
Please note: by law, salaries are mandatorily adjusted every year in January by approximately 3%.
Overtime Pay & Maximum Hours
Standard working hours are 8 hours per day, and 40 hours per week. The standard workweek is from Monday to Friday.